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last night congress just added $70 billion worth of new loopholes. >> mason: extraordinary. thanks, wyatt. wall street was not very concerned about what was in the deal, it was just happy there was a deal. on this first day of trading of the new year, the dow soared more than 300 points. but moody's warned today that if washington fails to take more action to cut the deficit, america's stellar credit rating will be at risk. secretary of state hillary clinton was released today from a new york hospital where she was being treated for a blood clot in her head. the secretary left in a motorcade with former president bill clinton and their daughter chelsea. margaret brennan is at new york presbyterian hospital. margaret? >> reporter: anthony, secretary clinton was just discharged from the hospital. her car pulled away just moments ago and her spokesperson released this statement saying: "her medical team advised her she is making good progress on all fronts and they are confident she will make a full recovery." earlier today, secretary clinton made her first public appearance in
last night congress just added $70 billion worth of new loopholes. >> mason: extraordinary. thanks, wyatt. wall street was not very concerned about what was in the deal, it was just happy there was a deal. on this first day of trading of the new year, the dow soared more than 300 points. but moody's warned today that if washington fails to take more action to cut the deficit, america's stellar credit rating will be at risk. secretary of state hillary clinton was released today from a new...
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we are gonna look back on this night and regret it. >> president obama rejoined his family in hawaii this morning. the white house had no immediate details when the president will receive and sign the bill. >>> well, stocks are sharply higher due to the fiscal cliff deal but some market watchers are cautioning that the euphoria could be short-lived because of the many challenging issues that remain unresolved. the dow is slightly off, but remaining up more than 200 points. it's up now 235 at 13,339. well, despite the fiscal cliff deal, everyone's paycheck will still be at least a little bit smaller this year. ktvu's janine de la vega is in los gatos to explain about the end of the payroll tax holiday. >> reporter: good afternoon. this tax cut has expired and it will affect every wage earner. most people that we spoke to this morning had no idea that it would affect their paychecks this year. now, here's what workers need to know -- the -- the past two years, americans were enjoying a boost in their paycheck. they lowered the social security tax to 4.2%. that measure was put in place
we are gonna look back on this night and regret it. >> president obama rejoined his family in hawaii this morning. the white house had no immediate details when the president will receive and sign the bill. >>> well, stocks are sharply higher due to the fiscal cliff deal but some market watchers are cautioning that the euphoria could be short-lived because of the many challenging issues that remain unresolved. the dow is slightly off, but remaining up more than 200 points. it's...
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last night president obama said he's not willing to debate congress on the borrowing limit. >> we can not not pay bills that we've already occurred. >> reporter: karen travers, abc news, washington. >>> for all of you holiday eaters, cot overweight actually be better for your health? we'll tell you about the recent study which suggests you may not want to lose those pounds. >>> and how the stievers of sandy hook are moving forward. >>> listen up if you're trying to lose those extra holiday powbd -- pownlsd. researchers found having a higher bmi may have a slightly lower chance of dying. those slightly overbeast were not much greater than a normal rate. now don't get too excited, though. experts warn the study does not prove that being overweight is a good thing. >>> scientists say for the first time image tests show fructose can spark brain images. women who spent eight weeks practice -- eating fructose, the brain doesn't register it. researchers say the study is too small to offer proof but does add to the evidence that fructose may play a role in overeating. >>> if you're planning o
last night president obama said he's not willing to debate congress on the borrowing limit. >> we can not not pay bills that we've already occurred. >> reporter: karen travers, abc news, washington. >>> for all of you holiday eaters, cot overweight actually be better for your health? we'll tell you about the recent study which suggests you may not want to lose those pounds. >>> and how the stievers of sandy hook are moving forward. >>> listen up if you're...
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late last night congress finally sent president obama legislation. >> this law is just one step in the broader effort to strengthen our economy and broaden opportunity for everybody. >> but at one point it looked like the deal could fall apart. >> there is some on spending cuts and we are adding to the debt. >> what we are doing is raising taxes to give the president more money to spend. >> some republicans were pushing to john boehner to add spending cuts but there weren't enough votes to get it passed. so they extended tax cuts for all workers for all those under $400,000 and extended unemployment benefits for some two million people. but the payroll tax expired so increase on salaries by 2% every worker up to $110,000 a year. then the stuff it didn't do. congress set up new ones, in just two months they will need to deal with the automatic spending cuts and nasty fight over the debt ceiling. last night president obama declared he is not willing to debate congress on the borrowing limit. >> we can't not pay bills that we have already incurred. >> president obama said if congress refu
late last night congress finally sent president obama legislation. >> this law is just one step in the broader effort to strengthen our economy and broaden opportunity for everybody. >> but at one point it looked like the deal could fall apart. >> there is some on spending cuts and we are adding to the debt. >> what we are doing is raising taxes to give the president more money to spend. >> some republicans were pushing to john boehner to add spending cuts but...
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late last night congress finally sent president obama legislation. >> this law is just one step in the broader effort to strengthen our economy and broaden opportunity for everybody. >> but at one point it looked like the deal could fall apart. >> there is some on spending cuts and we are adding to the debt. >> what we are doing is raising taxes to give the president more money to spend. >> some republicans were pushing to john boehner to add spending cuts but there weren't enough votes to get it passed. so they extended tax cuts for all workers for all those under $400,000 and extended unemployment benefits for some two million people. but the payroll tax expired so increase on salaries by 2% every worker up to $110,000 a year. then the stuff it didn't do. congress set up new ones, in just two months they will need to deal with the automatic spending cuts and nasty fight over the debt ceiling. last night president obama declared he is not willing to debate congress on the borrowing limit. >> we can't not pay bills that we have already incurred. >> president obama said if congress refu
late last night congress finally sent president obama legislation. >> this law is just one step in the broader effort to strengthen our economy and broaden opportunity for everybody. >> but at one point it looked like the deal could fall apart. >> there is some on spending cuts and we are adding to the debt. >> what we are doing is raising taxes to give the president more money to spend. >> some republicans were pushing to john boehner to add spending cuts but...
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but last night congress sent president obama a deal on the fiscal cliff. after months of drama and some tense last-minute negotiations, congress finally passed legislation to avoid the fiscal cliff. after the vote, a rare late-night statement from president obama. >> under this law, more than 98% of americans and 97% of small businesses will not see their income taxes go up. >> reporter: lawmakers completely blew their deadline. they didn't get the grand bargain both parties claimed was their ultimate goal. both democrats and republicans gave themselves credit for getting something done. >> this is a very, very strong first step. >> this is an important one. this is a critical one for the future of the country. >> reporter: there was considerable hand ringing among republicans about a lack of spending cuts. some wanted to add them in, but ultimately there weren't enough votes to get it passed. this fiscal cliff deal, which passed the senate with overwhelming bipartisan support would extend tax cuts for all workers earning less than $400,000 a year, prevent
but last night congress sent president obama a deal on the fiscal cliff. after months of drama and some tense last-minute negotiations, congress finally passed legislation to avoid the fiscal cliff. after the vote, a rare late-night statement from president obama. >> under this law, more than 98% of americans and 97% of small businesses will not see their income taxes go up. >> reporter: lawmakers completely blew their deadline. they didn't get the grand bargain both parties claimed...
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. >> republicans in congress brought the house to a new low last night. >>gregg: it is really bad. new york republican congressman peter king, whom you just heard, says house of representatives speaker boehner and house majority leader are not on speaking terms but both aides down play the divide. the two are scheduled to meet with members of the new york and new jersey delegation on sandy aid. congressman cantor says he will be there. moments ago, shannon, new jersey republican governor christie talked about it. he is not happy, either. >>reporter: he tried to call the speaker four times and boehner would not take the call as it was apparent the bill would not get to the floor for a vote. he says the two talks today but they still do not have a "credible explanation" for what happened. here is what the governor had to say. >> this atmosphere now, everything is a possibility, potential piece of bait for the political gain. it is why the american people hate congress. >>reporter: ouch. lawmaker whose objected to the quick vote say the senate measure was full of pork, including $600
. >> republicans in congress brought the house to a new low last night. >>gregg: it is really bad. new york republican congressman peter king, whom you just heard, says house of representatives speaker boehner and house majority leader are not on speaking terms but both aides down play the divide. the two are scheduled to meet with members of the new york and new jersey delegation on sandy aid. congressman cantor says he will be there. moments ago, shannon, new jersey republican...
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not even close in fact president obama spoke in very harsh words to congress last night about paying its bills. on time did avoid a tax increase on the employed not really it might have raised only taxes on the people making four hundred fifty thousand dollars or more but it did not address the payroll tax increases at all meaning that seventy seven percent of americans will be paying more in federal taxes come two thousand and thirteen and if you make about fifty thousand dollars a year just for an example you can expect to see your taxes increase by about a thousand dollars so despite the fact that congress is breathing a sigh of relief today things are as desperate as ever the u.s. could still end up going over the fiscal cliff after all so to talk more about this and more was max wolff senior analyst at green capital and professor at the new school he joined me earlier and started off by talking about the successes and failures on congress's part. i think i would liken it to the following congress took the u.s. government the u.s. economy hostage and they let their hostage go abo
not even close in fact president obama spoke in very harsh words to congress last night about paying its bills. on time did avoid a tax increase on the employed not really it might have raised only taxes on the people making four hundred fifty thousand dollars or more but it did not address the payroll tax increases at all meaning that seventy seven percent of americans will be paying more in federal taxes come two thousand and thirteen and if you make about fifty thousand dollars a year just...
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not even close in fact president obama spoke in very harsh words to congress last night about paying its bills and on time. do to avoid a tax increase on the employer not really it might have only raise taxes on people making four hundred fifty thousand dollars or more but it didn't address the payroll tax increases at all meaning that seventy seven percent of americans and the american public will be paying more in federal taxes in two thousand and thirteen if you make fifty thousand dollars a year for example expect to see your taxes increase by about one thousand dollars so despite the fact that congress is breathing a sigh of relief today things are as desperate as ever the u.s. could still end up going over that fiscal cliff after all so to talk more about this and more is next followed wolf he's a senior and it analyst at green capital and professor of the new school hey there max so i don't know about you but i stayed up until the wee hours of the morning trying to figure out what this deal really means for average americans i mean there's so much that is so hard to determine
not even close in fact president obama spoke in very harsh words to congress last night about paying its bills and on time. do to avoid a tax increase on the employer not really it might have only raise taxes on people making four hundred fifty thousand dollars or more but it didn't address the payroll tax increases at all meaning that seventy seven percent of americans and the american public will be paying more in federal taxes in two thousand and thirteen if you make fifty thousand dollars a...
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the house gave final approval for a bill late tuesday night. >> president obama thanked congress and asked that future negotiations not involve much trauma. --drama. >> they finally got it done. congress and the along from all over the fiscal cliff, with house republicans reluctantly passing the senate bill. >> i will sign a law that raises taxes on the wealthiest 2% of americans while preventing a middle-class tax hike that could have sent the economy back into recession. >> it appears the bill was headed for defeat. house republicans did not want to raise taxes without significant cuts in government spending. >> there are no spending cuts. we are adding $4 billion a day to the debt and we fell ilk -- feel like the senate bill failed miserably. >> they decided not to drag out the fight in the longer and risks taking the blame for massive tax hikes for nearly a met -- for nearly every american worker. >> what is the alternative? >> the bill shields those earning less than $400,000 a year from tax increases and extend unemployment benefits. it does not raise the so-called app ceiling.
the house gave final approval for a bill late tuesday night. >> president obama thanked congress and asked that future negotiations not involve much trauma. --drama. >> they finally got it done. congress and the along from all over the fiscal cliff, with house republicans reluctantly passing the senate bill. >> i will sign a law that raises taxes on the wealthiest 2% of americans while preventing a middle-class tax hike that could have sent the economy back into recession....
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stocks are surging thanks to the budget deal by congress late last night. we are seeing gains across the board. the dow up more 200 points. the nasdaq up almost 71 right now. some bad news for the orange industry. more than half of the citrus groves and florida could be infected with a bacterial disease. the journal says oranges from infected trees are still safe to eat however the bacterial disease slowly kills the tree is. an agriculture department has already cut i ts cast for or in production. forecast for orange production. the biggest shareholder is an investment fund started by the co-founder of aol. the super bowl still one month away. advertisements spots for the big game are almost sold out. they are being sold for record amounts this year. for the first time there will be three commercials that are longer than a minute. so far at least one advertisement has been sent back to the company because it was a little bit too racy. a look back on the year that we just finished. i'm your tutorial to make a bumper stickers for everybody. we talk to a lot o
stocks are surging thanks to the budget deal by congress late last night. we are seeing gains across the board. the dow up more 200 points. the nasdaq up almost 71 right now. some bad news for the orange industry. more than half of the citrus groves and florida could be infected with a bacterial disease. the journal says oranges from infected trees are still safe to eat however the bacterial disease slowly kills the tree is. an agriculture department has already cut i ts cast for or in...
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we'll look back at this night and regret it. >>it's frustrating to see the people go through the tough times and congress is not getting its job done. >> at least they're doing something. better than nothing. >> reporter: on capitol hill, surae chinn, 9news. >>> the bill includes an extension of unemployment benefits for about two million americans. the bill does not include the payroll tax cut. so workers will be paying about 2% more in social security taxes and that means a smaller paycheck each month. >>> the first same-sex marriages were performed at the montgomery county courthouse this morning. yesterday marked the first day that gay marriages were legal in the state of maryland. and among the first to tie the knot, a couple who got married at the black walnut-point inn on tillman ie -- on tilghman island. they stayed awhile to cheer on other couples. >> it was so quick to be such a ruckus through society and everything -- voting and everything. why was that such a big deal. >> this was truly a gift to us to see them being
we'll look back at this night and regret it. >>it's frustrating to see the people go through the tough times and congress is not getting its job done. >> at least they're doing something. better than nothing. >> reporter: on capitol hill, surae chinn, 9news. >>> the bill includes an extension of unemployment benefits for about two million americans. the bill does not include the payroll tax cut. so workers will be paying about 2% more in social security taxes and that...
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we are going to look back on this night and regret it. >> a day late and $4 trillion short. the fiscal cliff debate began 519 days ago when congress gave itself a deadline to address the ballooning debt and deficit. but according to the congressional budget office, the bill cut last night adds nearly $4 trillion to the deficit. the price tag of not letting all the bush tax cuts expire as scheduled. but while this bill does preserve tax cuts for the vast majority of americans, it doesn't mean most people won't see their taxes go up. in 2011, approaching the new year the white house pushed this campaign, #40. that's how much the average american would see pulled from their paycheck if congress didn't renew the payroll tax cut. yesterday, in the dark of night and without a sound, that tax cut expired, enacting a 2% tax hike on all earnings subject to the payroll tax. the non-partisan tax policy center estimates 160 million americans will take this hit, with the average family paying an extra $1,000 a year. so in the lead up to last night's vote, neither side was pushing #40doll
we are going to look back on this night and regret it. >> a day late and $4 trillion short. the fiscal cliff debate began 519 days ago when congress gave itself a deadline to address the ballooning debt and deficit. but according to the congressional budget office, the bill cut last night adds nearly $4 trillion to the deficit. the price tag of not letting all the bush tax cuts expire as scheduled. but while this bill does preserve tax cuts for the vast majority of americans, it doesn't...
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stocks kick off the year on a high note thanks in last part to last night's 11th-hour tax deal in congress. checking with bertha coombs for today's leaders and laggards. >> bill, a day for notable milestones. the dow starting the year up over 2% for only the tenth time in 100 years, the nasdaq's best one-day gain in over 15 months, the s&p starting the year with a sizable gain for the fifth straight year. that's never happened and the russell 2000 hitting a new all-time high. zipcar was the russell's biggest percentage gainer on a $500 million cash deal to be acquired by avis which today hit a five-year high on that deal. on the s&p, u.s. steel the biggest peersage gainer on an upgrade from credit suisse and metlife seeing big cliff relief rallies today. j.c. penney bucking the trend in new year starting the year with a bick bounce after losing 40%, alexion and other biotechs rallying and consol energy and natural gas players among today's decliners with forecasts calling for warmer weather ahead. kohl's and other retailers lower after likely disappointing sales. and emc, disappointing fou
stocks kick off the year on a high note thanks in last part to last night's 11th-hour tax deal in congress. checking with bertha coombs for today's leaders and laggards. >> bill, a day for notable milestones. the dow starting the year up over 2% for only the tenth time in 100 years, the nasdaq's best one-day gain in over 15 months, the s&p starting the year with a sizable gain for the fifth straight year. that's never happened and the russell 2000 hitting a new all-time high. zipcar...
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here we are on new year's night, the clock running out on the very existence of this congress. finally, considering bipartisan legislation to provide middle- class tax cuts and require the wealthiest once again pay their fair share so we can grow the economy, create jobs, and protect the most vulnerable in our society. it is indeed well past time that we got about the people's business. i served on the group of both republican and democratic representatives and senators who worked with the vice president on our nation's fiscal issues. we made good progress in those talks until our republican friends walked away, fearing the wrath of the tea party. i also served in the bipartisan joint select committee on deficit reduction, the so- called super committee, that spend countless hours discussing these issues in detail. it was very clear -- the elements of a fair and balanced fiscal plan were achievable. but at the end of the process, the republican leaders refuse to compromise and the super committee failed. so here we are. well this is not a perfect bill, and i have serious concer
here we are on new year's night, the clock running out on the very existence of this congress. finally, considering bipartisan legislation to provide middle- class tax cuts and require the wealthiest once again pay their fair share so we can grow the economy, create jobs, and protect the most vulnerable in our society. it is indeed well past time that we got about the people's business. i served on the group of both republican and democratic representatives and senators who worked with the vice...
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last night. will the same happen on wall street? we're going to go to live -- going to go live to fox business network in new york. >>> and you can buy a stamp celebrating the emancipation proclamation. the limited-edition stamp is one of civil rights stamps which will be released in 2013. >>> it's now 6:20. we'll be back. amazing. right? yeah. next one's on you. yeah, okay. introducing dunkin's new turkey sausage breakfast sandwich. the surprisingly great taste of turkey sausage on a pepper-fried egg with under 400 calories. try it, you'll like it. america runs on dunkin'. hurry in for dunkin's new turkey sausage breakfast sandwich today! >>> welcome back to fox 5 morning news. >>> it's back to work today on wall street. so the question is how will the stock market respond to the news of the fiscal cliff deal? lauren simonetti with fox business work is live. good morning tou, lauren. i haven't seen you since last year. >>reporter: oh, yes, it's been a while. good morning. happy
last night. will the same happen on wall street? we're going to go to live -- going to go live to fox business network in new york. >>> and you can buy a stamp celebrating the emancipation proclamation. the limited-edition stamp is one of civil rights stamps which will be released in 2013. >>> it's now 6:20. we'll be back. amazing. right? yeah. next one's on you. yeah, okay. introducing dunkin's new turkey sausage breakfast sandwich. the surprisingly great...
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and asking congress to hold that vote today. so stay tuned, we'll find out if there's reaction from congress. glucerna hunger smart shakes.s they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. [ male announcer ] glucerna hunger smart. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobile app. >>> so did you think after coming off an election year, you would have a chance to exhale? think against. there's three more -- we've joined to talk about his favorite five. it's so tough, break it down. >>> the coming
and asking congress to hold that vote today. so stay tuned, we'll find out if there's reaction from congress. glucerna hunger smart shakes.s they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. [ male announcer ] glucerna hunger smart. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually...
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after weeks of negotiations and last-minute hold-ups over the fiscal cliff, congress late last night finally passed an agreement on taxes and spending. in a moment, we'll tell you what that legislation means for every american. but it's what the house did not do last night that caused an uproar today. lawmakers left before considering a bill to help victims of superstorm sandy, and that had republicans from hard-hit states taking aim at leaders of their own party. nbc's kelly o'donnell is at her post on capitol hill once again tonight. kelly, good evening. >> reporter: good evening, kate. so the house had not taken any kind of vote on a new year's day in nearly 60 years. and when they did so, they got that tax deal done, but only minutes later, a new controversy popped up, over government spending. and it spread through here furiously, and with real impact. new york and new jersey got angry and got action over emergency funding that was being delayed. it was a midnight surprise. >> the ayes have it, accordingly, the house stands ayoured. >> reporter: boos and jeres erupted. when help
after weeks of negotiations and last-minute hold-ups over the fiscal cliff, congress late last night finally passed an agreement on taxes and spending. in a moment, we'll tell you what that legislation means for every american. but it's what the house did not do last night that caused an uproar today. lawmakers left before considering a bill to help victims of superstorm sandy, and that had republicans from hard-hit states taking aim at leaders of their own party. nbc's kelly o'donnell is at...
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late last night the congress and white house hammered out a deal. the house of representatives passed a senate bill that protects 99% of americans from an income tax hike. >> a central premise of my campaign was to change the tax code. that was too skewed toward the wealthy at the expense of working middle class americans. tonight we done have that >> president obama is right now as we speaking flying back to hawaii. he's resuming the family vacation he cut short in order to deal with that fiscal cliff. here are some of the details of the fiscal cliff deal that was passed last night. a perm extension of previous tax cut for all taxpayers expect for individuals that make $400,000 a year or couples that make more than $450,000. the bill continues unemployment benefits for long-term jobless. and postpones a decision on controversial spending cuts for two months. even though congress acted to avert income tax hikes on most americans, your paycheck will still shrink in 2013. ktvu janine de la vega is in san jose right now to explain about the end of the
late last night the congress and white house hammered out a deal. the house of representatives passed a senate bill that protects 99% of americans from an income tax hike. >> a central premise of my campaign was to change the tax code. that was too skewed toward the wealthy at the expense of working middle class americans. tonight we done have that >> president obama is right now as we speaking flying back to hawaii. he's resuming the family vacation he cut short in order to deal...
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but this night as we end the 112th congress, as we have strived mightily to come to an agreement with great difficulty and realizing that all of us have very strong feelings i severely regret that this is not a big, bold, balanced plan. >> i yield two minutes to the gentleman. >> the gentleman recognized for an additional two minutes. >> i recognize this is not a big, bold and balanced plan. we had an opportunity to reach such an agreement. n. a bipartisan fashion. and we will not reach a big bold and balanced plan without bipartisanship because the decisions we will have to make will be too difficult. not to be done in a bipartisan fashion. but this night we take a step. a positive step. and the people watching us, mr. speaker, on television tonight and reading about their congress tomorrow and seeing that we were able to act. not perfectly. but in a bipartisan fashion to try to take a step towards fiscal responsibility, fiscal stability, and, yes, caring for those who most need our help in this country. and so i urge my colleagues as the leader of my party in this congress you restr
but this night as we end the 112th congress, as we have strived mightily to come to an agreement with great difficulty and realizing that all of us have very strong feelings i severely regret that this is not a big, bold, balanced plan. >> i yield two minutes to the gentleman. >> the gentleman recognized for an additional two minutes. >> i recognize this is not a big, bold and balanced plan. we had an opportunity to reach such an agreement. n. a bipartisan fashion. and we will...
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after months of wring lynn and rhetoric, congress late last night approving a deal to avert the dreaded fiscal cliff. >> on this vote the yeas are 257, the nays are 167 the motion is adopted without objection the motion to reconsider is laid on the table. bill: with that it was dun, it was dunn. you were probably watching college football but not before widespread tax hikes were baked into the deal. and those drastic budget cuts we talked about for a year, they were kicked down the road. there are many questions on the fine print. i'm bill hemmer. welcome here to "america's newsroom.". nice to see you back. martha: dun to your spelling. i'm arthel neville in more merit that mack today. democrats are hailing the deal as a victory. republicans are saying they were making the best of a bad situation. bill: the deal calls for more spending. not less spending in the end >> virt wallly no one believes what we have here tonight is a long-term solution. >> we set up for fiscal cliffs. >> we'll look back on this night and regret it. bill: doug mckelway in washington. late night again last night.
after months of wring lynn and rhetoric, congress late last night approving a deal to avert the dreaded fiscal cliff. >> on this vote the yeas are 257, the nays are 167 the motion is adopted without objection the motion to reconsider is laid on the table. bill: with that it was dun, it was dunn. you were probably watching college football but not before widespread tax hikes were baked into the deal. and those drastic budget cuts we talked about for a year, they were kicked down the road....
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the vote was abruptly pulled back by speaker boehner last night delaying the bill until the 113th congress which convenes tomorrow. gop leadership apparently determined the house shouldn't even try for $60.4 billion in new spending on a night it added $4 trillion to the deficit. and congressman king is not the only one outraged that politics took precedence over people. >> republicans in congress brought this house to a new low last night. >> we're all hit hard enough with the recession. on top of that now we have to deal with the anxiety and the failure of congress to act. >> talk to the people. look into their eyes. understand their needs. come walk with me, mr. speaker. >> this is time to stop debating and take the gloves off. jersey style. >> and speaking of jersey style, governor chris christie came out swinging this afternoon. >> shame on you. shame on congress. on a political chess board of internal palace intrigue politics, our people were played last night as a pawn. and that's why people hate washington, d.c. that's why they hate this politics. last night it was my party responsi
the vote was abruptly pulled back by speaker boehner last night delaying the bill until the 113th congress which convenes tomorrow. gop leadership apparently determined the house shouldn't even try for $60.4 billion in new spending on a night it added $4 trillion to the deficit. and congressman king is not the only one outraged that politics took precedence over people. >> republicans in congress brought this house to a new low last night. >> we're all hit hard enough with the...
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well, the action that congress took late last night to prevent income tax for most americans does not mean your paycheck is safe. ktvu's janine de la vega is in san jose right now to tell us why your next paycheck will still be smaller because the payroll tax holiday is ending. >> reporter: many people are surprised to hear that this payroll tax cut is expiring. analysts say this will but some strain on the economy because the less money people take home, the less they will spend. the average family making $50,000 a year will see their paychecks drop by $1,000 a year. the average family making $75,000 a year will see $1500 less a year and the average making $100,000 a year will see a decrease of $2,000 annually. now, one man we spoke to this morning said he did not know this would affect his paycheck and he says he doesn't like this. >> it will be a little bit hard. it will be difficult. i mean, we just have to survive like we have been. p penny-pinch, as they say. >> reporter: for the past few years, americans were enjoying a boost in their paychecks. the social security tax was lowe
well, the action that congress took late last night to prevent income tax for most americans does not mean your paycheck is safe. ktvu's janine de la vega is in san jose right now to tell us why your next paycheck will still be smaller because the payroll tax holiday is ending. >> reporter: many people are surprised to hear that this payroll tax cut is expiring. analysts say this will but some strain on the economy because the less money people take home, the less they will spend. the...
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, after a late night of final suspense on the fiscal cliff legislation. it gave the president much of what he wanted on taxes, and left republicans sharply divided. for president obama, the end-- for now-- of the washington budget drama, meant returning to hawaii today to resume his holiday vacation. but last night, before leaving, he welcomed house approval of the fiscal cliff bill. >> a central promise of my campaign for president was to change the tax code that was too skewed towards the wealthy at the expense of working middle- class americans. tonight, we've done that. >> reporter: the final vote in the house was 257 to 167 on a bill the senate had already approved, it capped days of intense negotiations. the provisions will affect nearly all taxpayers. for individuals making at least $400,000 and couples making $450,000-- income tax rates will go up-- from the current 35% to more than 39%. for that same group, dividend and capital gains taxes will also rise to 20%, from 15%. and all income groups get hit by the expiration of a payroll tax break. it'
, after a late night of final suspense on the fiscal cliff legislation. it gave the president much of what he wanted on taxes, and left republicans sharply divided. for president obama, the end-- for now-- of the washington budget drama, meant returning to hawaii today to resume his holiday vacation. but last night, before leaving, he welcomed house approval of the fiscal cliff bill. >> a central promise of my campaign for president was to change the tax code that was too skewed towards...
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he left washington last night after lawmakers approved a bill that prevents a middle class tax hike and delays automatic spending cuts. congress and the white house struggled to get the deal done and neither republicans nor democrats seem pleased with the outcome. >> someone stop hitting you in the head with a hammer and you're supposed to say thank you so much for the relief. >> reporter: many voters are upset it took lawmakers so long to reach a compromise. >> i think we needed a deal. i'm not necessarily altogether happy. >> reporter: the measure raises taxes on families making more than $450,000 a year and extends long-term jobless benefits for a year. but the package does not include spending cuts and many republicans voted against it. >> i'd like to be speaking for this bill, but i can't. >> reporter: congress steered away from the "fiscal cliff" at the last minute but another showdown is just around the corner. in two months, the treasury will need to increase how much the country can borrow and lawmakers must approve it. the last time congress fought over the debt ceiling, ameri
he left washington last night after lawmakers approved a bill that prevents a middle class tax hike and delays automatic spending cuts. congress and the white house struggled to get the deal done and neither republicans nor democrats seem pleased with the outcome. >> someone stop hitting you in the head with a hammer and you're supposed to say thank you so much for the relief. >> reporter: many voters are upset it took lawmakers so long to reach a compromise. >> i think we...
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. >> reporter: just last night the president warned congress that he won't negotiate on the debt limit. >> the one thing that i think hopefully in the new year we can focus on, is putting a package like this together with a little bit less drama, a little less, and not scare the heck out of folks quite as much. >> reporter: but, with the sequester and other big spending issues like medicare on the table, striking a deal this year won't be easy. >> this is the best opportunity that we're going to have to save our nation and do those things that we have to put in play. >> reporter: but there's not much hope for a sweeping deal this year. >> my suspicion is that we will you know, kick the can down the road on whatever we do in february or march, and it may be for a year, it may be for two years, but we'll be coming back to deal with issues like this in the near-term. >> reporter: the investment market isn't putting much pressure on lawmakers to forge a long-term solution for the nation's fiscal troubles, and some fear that could mean a real fix is still very far away. >> the good news is
. >> reporter: just last night the president warned congress that he won't negotiate on the debt limit. >> the one thing that i think hopefully in the new year we can focus on, is putting a package like this together with a little bit less drama, a little less, and not scare the heck out of folks quite as much. >> reporter: but, with the sequester and other big spending issues like medicare on the table, striking a deal this year won't be easy. >> this is the best...
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reached last night. of course, you also need to add about 4% more if you make above $250,000 thanks to the health care law. still that's viewed as a favorable outcome for those dividend dash paying stocks because the fear was -- >> 40%. >> it was going to go to 40%. eff cox says t note our own dividend-paying stocks may pose some of dangers investors are missing regardless of that friendly tax rate. even as ryan lorenza, our u.s. extis strategy for tds thinks dividend stocks will pay off. jeff, why are you concerned? >> let me talk about a couple of issues. the one you is guys talked about before. we are in the early innings of this whole fiscal cliff mess and the sequestration and what not. it's going to create a lot of volatility in the market. dividend stocks underperformed last year only with a 5% return. i think they will underperform this year. second point is that we saw in december a lot of special dividend issues happening. i think that was sort of a pull forward kind of demand, and they didn't
reached last night. of course, you also need to add about 4% more if you make above $250,000 thanks to the health care law. still that's viewed as a favorable outcome for those dividend dash paying stocks because the fear was -- >> 40%. >> it was going to go to 40%. eff cox says t note our own dividend-paying stocks may pose some of dangers investors are missing regardless of that friendly tax rate. even as ryan lorenza, our u.s. extis strategy for tds thinks dividend stocks will...
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. >> a surge on wall street after congress finally reached a fiscal deal late tuesday night. on this thursday in trading of the new year, the dow jones jumped more than 200 points. >> this lot is just one step in the broader effort to strengthen our economy and broaden opportunities for everybody. >> the measure now headed to the president's desk and will prevent income tax increases and workers -- on workers earning less than $400,000 year-end extend unemployment benefits. but the bill does not include a speextending the social security tax cut. workers will now pay to% more in social security taxes. >> what we are really doing is raising taxes to give the president or money to spend. we think that's a bad idea. >> are members on the hill say that this was not a perfect or permanent fix but they're glad a deal is done. others say this is just the beginning of tackling the fiscal problems. a virginia congressman, jim moran, one of 16 democrats who did not vote for the bill. he says this year will see a dramatically shrinking government. >> this is a new day and it's not a bri
. >> a surge on wall street after congress finally reached a fiscal deal late tuesday night. on this thursday in trading of the new year, the dow jones jumped more than 200 points. >> this lot is just one step in the broader effort to strengthen our economy and broaden opportunities for everybody. >> the measure now headed to the president's desk and will prevent income tax increases and workers -- on workers earning less than $400,000 year-end extend unemployment benefits....
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late last night the house approved a bill to avoid the so- called fiscal cliff and the measure is now on its way to president obama for him to sign. >> if the president and congress fail to act, the billions of tax hikes and spending cuts were set to take effect this month. fox's lauren green has more. >> the yaes are 257, the nays are 167, the motion is adopted without objection a motion to reconsider is laid on the table. >>reporter: the republican- controlled house of representatives has moved to pass the fiscal cliff bill. >> the central premise of my campaign for president was to change the tax code that was too skewed toward the wealthy at the expense of working middle class americans. tonight we've done it. >>reporter: they dropped their demands for additional spending cuts, clearing the way for the vote, but not all were in full support of the deal. >> and the problem is we set up three nor fiscal cliffs. we're going to have to deal with the debt ceiling, we're going to have to deal with the continuing resolution expiration and we'll have to deal with the sequester and all tha
late last night the house approved a bill to avoid the so- called fiscal cliff and the measure is now on its way to president obama for him to sign. >> if the president and congress fail to act, the billions of tax hikes and spending cuts were set to take effect this month. fox's lauren green has more. >> the yaes are 257, the nays are 167, the motion is adopted without objection a motion to reconsider is laid on the table. >>reporter: the republican- controlled house of...
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this was the moment of truth late last night, the first and new year's day vote in congress since the korean war 60 years ago. a vote on a compromise agreement that neither party loves. >> virtually no 1 believes that what we have before us tonight is a long-term solution. >> it reminds me of the jokes were used to have, where someone stops hitting you in the head with a hammer and you're supposed to say thank you so much for the relief. >> in the end, house democrats were joined by enough republicans for the agreement to become law. as for the president to deliver on a campaign pledge, that the rich would pay more to help reduce the deficit. >> i will sign a law that raises taxes on the wealthiest 2% of americans wall preventing a middle-class tax hike for -- while preventing a middle-class tax hike. >> they have agreed that the wealthiest americans will pay more income tax. individuals earning more than $400,000 a year deep spending cuts of more than $100 billion have been delayed for two months which means there will be another round of haggling at the beginning of march. the u.s.
this was the moment of truth late last night, the first and new year's day vote in congress since the korean war 60 years ago. a vote on a compromise agreement that neither party loves. >> virtually no 1 believes that what we have before us tonight is a long-term solution. >> it reminds me of the jokes were used to have, where someone stops hitting you in the head with a hammer and you're supposed to say thank you so much for the relief. >> in the end, house democrats were...
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congress has adjourned. and late last night, after midnight, the president left for hawaii to meet with his family. and hopefully, he thinks for a few days' vacation. >> you mentioned the breathing per feelings got raw at the last minute. >> reporter: it got really nasty. politico first reported on friday when the congressional leaders met here at the white house, speaker of the house john boehner told the democratic leader, harry reid, off, use uhhing language i can't use here on "good morning america." >> you can't even paraphrase. >>> let's look at what the deal means to you at home. lots of paycheck changes right now. and bianna golodryga is at the smart screen to break it down. about 99% of americans protected from an increase. but most workers will take a hit. >> payroll taxes going up. this affects everyone making $110,000 or less. so, this year, anyone making $110,000 will pay an extra $2,200 in taxes. people making $50,000 will pay an extra $1,000. and someone making $20,000 a year will pay more $40
congress has adjourned. and late last night, after midnight, the president left for hawaii to meet with his family. and hopefully, he thinks for a few days' vacation. >> you mentioned the breathing per feelings got raw at the last minute. >> reporter: it got really nasty. politico first reported on friday when the congressional leaders met here at the white house, speaker of the house john boehner told the democratic leader, harry reid, off, use uhhing language i can't use here on...
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host: legislation that passed the house last night presents $900 automatic pay hike for members of congress. that's from the huffing post. guest: the president tried to give it to us. we didn't know he can do that. congress gets a raise every single year automatically unless it votes not to. we have vote, properly so not to give ourselves those automatic raises and we have not received those raises. the president said he want to give it to us. we didn't they he could do that. evidently he could. we worked out a separate bill and part of the compromise last night is for us not to take that. host: let's hear from michael. caller: good morning. congressman mulvaney, i agree with much of what you say and think everyone does. i think the great trick, great fraud that's been perpetrated on the american people is the ability to wealthy corporation to convert tax money into personal money. the way that work is through war. war is a massive fraud, from my perspective. we didn't have to invade iraq. don't have to be in afghanistan. i agree with you that it's time to bring the troops home but it was t
host: legislation that passed the house last night presents $900 automatic pay hike for members of congress. that's from the huffing post. guest: the president tried to give it to us. we didn't know he can do that. congress gets a raise every single year automatically unless it votes not to. we have vote, properly so not to give ourselves those automatic raises and we have not received those raises. the president said he want to give it to us. we didn't they he could do that. evidently he...
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. >> congress passes a fiscal cliff compromise. >> the house late last night passed the senate bill that avoids the spends cuts and tax hike set to take effect later this year. >> we've set up more fiscal cliffs. we're going to look back on this night and regret it. >>> president obama urged them not to fight politics with the nation's debt limit. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up. >>> wall street is ready to rally this morning after the late-night budget breakthrough in washington. >>> asian markets got a big boost over news of the agramt. >>> horng congress's hang seng gained nearly 3%. >>> sandy hook elementary students are about to head back to class three weeks after a shooting. classes return to a repurposed school. >>> an open house is set for today. >>> a shell oil rig has run aground off the coast of alaska. >>> no oil is leaking. all members have been evacuated. >>> they captured photos of justin bean 'eers car. >> but he wasn't driving, and he wasn't in the car at all. >>> what a hi
. >> congress passes a fiscal cliff compromise. >> the house late last night passed the senate bill that avoids the spends cuts and tax hike set to take effect later this year. >> we've set up more fiscal cliffs. we're going to look back on this night and regret it. >>> president obama urged them not to fight politics with the nation's debt limit. >> i will not have another debate with this congress over whether or not they should pay the bills that they've...
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to over the fiscal cliff.but for & night... theehoose approved &pmeasure passed earliir n the day....by the ssnatt. it day.aises taxes on individuals &pearninggmore than 400-thoosan a year... and couples earning more than 450--housand dolllrs unemployment benefits. prrsideet obama praised lawmakers for reaccing an &pagreement that prottcts tte middle class. thanks to the votes of democrats and republicans in &pcoogress, i will sign aalaw that raises taxes on the cllssstax hike thht could have recession and obvvously had a severe impact on families all america.merica. middle claas amerrians will still take a financcal hit n po pay higher income taxes... they will have to pay at least 2-percent more in payroll taxes. thaa means most of the coontry's 160 illion workers will see smaller paychecks thiss the house of reppeeentatives wrapppd up this session wwthout considering the legislation.... authorizing assistance for uperstorm sandy victtms. the senate had alrrady passed the 60-poinn-four-billion dollar easure... but because new
to over the fiscal cliff.but for & night... theehoose approved &pmeasure passed earliir n the day....by the ssnatt. it day.aises taxes on individuals &pearninggmore than 400-thoosan a year... and couples earning more than 450--housand dolllrs unemployment benefits. prrsideet obama praised lawmakers for reaccing an &pagreement that prottcts tte middle class. thanks to the votes of democrats and republicans in &pcoogress, i will sign aalaw that raises taxes on the cllssstax...
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republicans in congress brought this house to a new low last night. the banner on the speaker's chair says, in god we trust. god alone cannot help these families rebuild but unfortunately the american people cannot trust the republican congress to help either. the only thing my republican colleagues did this week was to serve up false hope to the people who have been devastated by this storm. false promises, false guarantees that would be there to help them in their time of need. many of you know that my cousin john moran, i don't speak about john often, was killed on 9/11. he came from the rockaway community. there was a monument on the beach, on beach 118th street, there were i would say dozens of monuments, as congressman meeks knows, along the rockaway peninsula. they were destroyed by hurricane sandy. it didn't stop my family and his neighbors to go out and sift through the feets of sand to find that memorial, it was that precious to them. they didn't wait for the federal government to come help pull them up by their boot straps. they did it them
republicans in congress brought this house to a new low last night. the banner on the speaker's chair says, in god we trust. god alone cannot help these families rebuild but unfortunately the american people cannot trust the republican congress to help either. the only thing my republican colleagues did this week was to serve up false hope to the people who have been devastated by this storm. false promises, false guarantees that would be there to help them in their time of need. many of you...
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the house passes the fiscal cliff bill and president obama is thanking congress for passing it. but when he spoke late last night, he said he hopes for less drama in the future. >> there's looft work still to be done -- lot of work still to be done. now the bill heads to the president for his signature. surae chinn is live on capitol hill with more on where we stand now. we have plenty left to do. good morning, surae. >> reporter: that's right. good morning to you, mike and andrea. it's not as big of a financial package as some lawmakers would have liked but a deal is a deal. in the end the house did end up approving the senate fiscal bill around 11:00 last night by a margin of 257-167 opposing votes. and some consider this a political victory for the president that comes one day after the fiscal cliff deadline. but the deal will work retroactively to extend the bush era tax rates for most americans. it is what he campaigned on to raise taxes on the wealthiest. the bill raises income taxes for individuals earning $400,000 a year and families earning $450,000. it includes an exte
the house passes the fiscal cliff bill and president obama is thanking congress for passing it. but when he spoke late last night, he said he hopes for less drama in the future. >> there's looft work still to be done -- lot of work still to be done. now the bill heads to the president for his signature. surae chinn is live on capitol hill with more on where we stand now. we have plenty left to do. good morning, surae. >> reporter: that's right. good morning to you, mike and andrea....
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shame on congress. >> reporter: lawmakers expected a vote on the sandy aid bill late last night after the fiscal cliff deal passed but in a surprise move, house speaker john boehner pulled the bill. it would not -- the reaction was swift and angry. >> the ayes have it. the house stands adjourned until 10 a.m. tomorrow morning. >> reporter: the senate passed a measure that with provide $60 million and many said the provides tag was too high. >> there raise been no substantive reason given for the action. >> reporter: the timing is key. if the house doesn't vote on the senate-passed measure, lawmakers have to start from scratch because the new members cannot take up a bill from the old congress. that means the much needed i'd could be delayed for several weeks. >> we need to rebuild now. we need to act now. we can't wait for the next congress. >> reporter: speaker boehner told republicans there will ab vote friday and the rest by january 15th. >> congressman peter king said the speaker of the house john boehner promised aid to victims will be coming up january 15 and there's a scheduled
shame on congress. >> reporter: lawmakers expected a vote on the sandy aid bill late last night after the fiscal cliff deal passed but in a surprise move, house speaker john boehner pulled the bill. it would not -- the reaction was swift and angry. >> the ayes have it. the house stands adjourned until 10 a.m. tomorrow morning. >> reporter: the senate passed a measure that with provide $60 million and many said the provides tag was too high. >> there raise been no...
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shame on congress. >> lawmakers expected a vote on the sandy aid bill late last night after the fiscal cliff deal passed but in a surprise move, boehner pulled the bill. boehner assures lawmakers a vote on sandy aid will happen by january 15th. >>> stress, you know, it's a normal part of our lives but how you hand tell can have a real impact on your health. being constantly stressed out can aid you. in fact, it's the greatest ager of all. chronic stress can do serious damage to you. >> in the short term it increases cortisol and other hormone levels. in other cases it depletes them. it's the delesion, having the chronic stress is aging. it increases our risk for cancers. it increases our risk of inflammation. the plaque rupture which causes heart disease, stroke, memory also and increases our risk of accidents. >> there's no way to avoid stress but how you manage it make as big difference. deep breathing, medication and having a good circle of friends for support is helpful. >>> if dropping extra pounds tops your list of resolutions this year, there are ways to boost your metabolism wi
shame on congress. >> lawmakers expected a vote on the sandy aid bill late last night after the fiscal cliff deal passed but in a surprise move, boehner pulled the bill. boehner assures lawmakers a vote on sandy aid will happen by january 15th. >>> stress, you know, it's a normal part of our lives but how you hand tell can have a real impact on your health. being constantly stressed out can aid you. in fact, it's the greatest ager of all. chronic stress can do serious damage to...
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republicans in congress brought this house to a new low last night. the banner other the speaker's chair says, in god we trust. god alone cannot help these people rebuild but the american people cannot trust the republican congress to help either. the only thing the republican leadership did is serve up false promises to the families, false guarantees, many know my cousin john moran was killed on 9/11. he came from the rockaway community. there was a monument on the beach, dozens of mononumets along the rockaway peninsula. they were destroyed by hurricane sandy. it didn't stop my family and his neighbors to go out and sift through the feet of sand to find that memorial with that -- it was that precious they didn't wait for the federal government to come help pull them up by their boot strap they did it themselves, they continue to do it. they're humble people, proud people throughout the entire region affected by this. they will recover but sadly to say, no thanks to the 112th congress. the speaker pro tempore: the gentleman's time has expired. the ch
republicans in congress brought this house to a new low last night. the banner other the speaker's chair says, in god we trust. god alone cannot help these people rebuild but the american people cannot trust the republican congress to help either. the only thing the republican leadership did is serve up false promises to the families, false guarantees, many know my cousin john moran was killed on 9/11. he came from the rockaway community. there was a monument on the beach, dozens of mononumets...
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last night on the holiday for most of us, congress agreed on a deal to avoid the fiscal cliff. sherrie johnson is live this morning with what it can mean for you. there's a lot of stuff to work through with this. >> reporter: oh, you are absolutely right especially with the debt ceiling. we have more work but after months of drama and tense negotiations, congress passed legislation to avoid the fiscal cliff. lawmakers did not meet the deadline and they didn't get the grand bargain that both parties clap was the goal there. was concern among -- a lack of spending cuts. the deal would shield income tax cuts for all workers earning less than 400,000 dollars a year and households earning less than 450,000 dollars. it prevents a tax hike on a state's -- estates valued at less than 5 34eu8ion and extends unemployment benefits for about 2 million people that were set to expire. now what it does not do is raise the debt ceiling. in two months the government will reach the limit on borrowing unless congress acts. the bill delays large cuts to the pentagon and other government programs.
last night on the holiday for most of us, congress agreed on a deal to avoid the fiscal cliff. sherrie johnson is live this morning with what it can mean for you. there's a lot of stuff to work through with this. >> reporter: oh, you are absolutely right especially with the debt ceiling. we have more work but after months of drama and tense negotiations, congress passed legislation to avoid the fiscal cliff. lawmakers did not meet the deadline and they didn't get the grand bargain that...
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in the last night or the last two days of a congress to say that two months from now, a new congress is going to do what we are not doing here today is not something i would like to do. i want americans to have lower taxes, but the other day in conference, one of my colleagues pointed out that if, in fact, you're spending the money, you're taxing our future generation. we are taxing $1.2 trillion next year. we are taxing $1.2 trillion. we won't collect it, but taxing $1.2 trillion of deficit. the chairman of the committee of the ways and means committee, mr. camp, rightfully so said, we also aren't simplifying the tax code and not making it better or fairer and not getting rid of the nascar loophole or the electric motor scooter low-speed loophole and not getting rid of a lot of tax things that are here. we aren't taking things that the president said he would be for, like getting the calculation of changing the consumer price index for federal security work force and pensions, which would reduce the deficit. i cannot believe that this tax cut will, in fact, be followed with the spen
in the last night or the last two days of a congress to say that two months from now, a new congress is going to do what we are not doing here today is not something i would like to do. i want americans to have lower taxes, but the other day in conference, one of my colleagues pointed out that if, in fact, you're spending the money, you're taxing our future generation. we are taxing $1.2 trillion next year. we are taxing $1.2 trillion. we won't collect it, but taxing $1.2 trillion of deficit....
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this was the moment of truth late last night, the first and new year's day vote in congress since the korean war 60 years ago. a vote on a compromise agreement that neither party loves. >> virtually no 1 believes that what we have before us tonight is a long-term solution. >> it reminds me of the jokes were used to have, where someone stops hitting you in the head with a hammer and you're supposed to say thank you so much for the relief. >> in the end, house democrats were joined by enough republicans for the agreement to become law. as for the president to deliver on a campaign pledge, that the rich would pay more to help reduce the deficit. >> i will sign a law that raises taxes on the wealthiest 2% of americans wall preventing a middle-class tax hikett for -- while preventing a middle-class tax hike. >> they have agreed that the wealthiest americans will pay more income tax. individuals earning more than $400,000 a year deep spending cuts of more than $100 billion have been delayed for two months which means there will be another round of haggling at the beginning of march. the u.s
this was the moment of truth late last night, the first and new year's day vote in congress since the korean war 60 years ago. a vote on a compromise agreement that neither party loves. >> virtually no 1 believes that what we have before us tonight is a long-term solution. >> it reminds me of the jokes were used to have, where someone stops hitting you in the head with a hammer and you're supposed to say thank you so much for the relief. >> in the end, house democrats were...
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Jan 2, 2013
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. ♪ today is the last day of the 112th congress, and not a moment too soon. get this before adjourning last night, the gop-controlled house refused to bring up a $60.4 billion relief package to aid victims of hurricane sandy, and many politicians, even republicans are crying foul. >> for the continued suffering of these innocent victims. the house majority and their speaker, john boehner. we respond to innocent victims of natural disasters, not as republicans or democrats, but as americans, or at least we did until last night. >> jennifer: now criticism like that has prompted speaker boehner to change his tune. he now says that congress will take up that storm-relief package this week. coming us tonight from washington to talk about why congress did fail to act is andrew krol, a reporter with "mother jones." andy welcome back. happy new year. >> happy new year to you too. >> jennifer: stenny holder says that eric cantor told him that he was 99.9% sure that a sandy package would in fact make it to the floor. and this was before last night. what happened? >> th
. ♪ today is the last day of the 112th congress, and not a moment too soon. get this before adjourning last night, the gop-controlled house refused to bring up a $60.4 billion relief package to aid victims of hurricane sandy, and many politicians, even republicans are crying foul. >> for the continued suffering of these innocent victims. the house majority and their speaker, john boehner. we respond to innocent victims of natural disasters, not as republicans or democrats, but as...
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Jan 2, 2013
01/13
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. >> congress has nearly avoided a fiscal cliff. the republican-led house of representatives agreed on a compromise late last night. if less than 24 hours after the deal was passed by the senate. if the final house vote was 257 to 167, with 85 republicans joining democrats. the vote capped off weeks of back and forth between chambers. president obama praised the compromise, saying that he does not want a repeat of the bickering in future negotiations. >> the bill case and come taxes the same for everyone except individuals making $400,000 a year or more. it also delays automatic spending cuts in defense and government programs for two months. it extends long term unemployment benefits that were set to expire. the measure head to president obama, who has promised to sign it. he left immediately after commending on of the house vote, to rejoin his family in hawaii. >> our coverage of this fiscal cliff agreement will continue throughout the morning. essex 30 a.m. we will carry opening bell alive, as a big rally is expected after the de
. >> congress has nearly avoided a fiscal cliff. the republican-led house of representatives agreed on a compromise late last night. if less than 24 hours after the deal was passed by the senate. if the final house vote was 257 to 167, with 85 republicans joining democrats. the vote capped off weeks of back and forth between chambers. president obama praised the compromise, saying that he does not want a repeat of the bickering in future negotiations. >> the bill case and come taxes...
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the house passed the bill last night. as he tells us it leaves a lot to be desired. >> they finally got it done. congress ended the long drama over the fiscal cliff with house republicans rereluctant and thely passing the senate bill. >> i will sign the bill that raises taxes on wealthiest americans. >> for a time it appeared the bill was head forward defeat. >> i do not support the bill. >> house republicans did not want to raise taxes without significant cuts in government spending. >> there is no spending cuts. we're adding $4 billion a day to the debt. we feel like the senate bill failed. >> but republicans did not want to drag out the fight any longer and risk essentially taking the blame for massive tax hikes. >> what is the alternative? the alternative is $4 trillion of tax hikes to hit the american people. >> people earning less $400,000 shields them from tax increases and extends unemployment benefits. what it does not do is raise the debt ceiling. in two months the government will reach its limit on borrowing an
the house passed the bill last night. as he tells us it leaves a lot to be desired. >> they finally got it done. congress ended the long drama over the fiscal cliff with house republicans rereluctant and thely passing the senate bill. >> i will sign the bill that raises taxes on wealthiest americans. >> for a time it appeared the bill was head forward defeat. >> i do not support the bill. >> house republicans did not want to raise taxes without significant cuts in...
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Jan 2, 2013
01/13
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. >> tracie potts has a breakdown of what congress agreed to. >> good morning. a very late vote last night but runtime for millions of americans who wondered if their taxes would go what this year. >> lawmakers left capitol hill after finally avoiding the fiscal cliff. >> some point you strike a balance. >> 257 democrats and republicans voting for a bill to keep the alternative minimum tax from hitting working families and prevent tax hikes for 98% of americans. tax rates will go up for couples making more than $450,000. the estate tax threshold is over $5 million. >> tax relief has been achieved. now is a time for the president to work with congress to address the government overspending. >> and the debt ceiling. president obama urged congress to raise it. >> we cannot not pay bills that we have already incurred. the consequences for the global economy would be catastrophic. >> no word when the president will sign the new bill. it was just in time for nervous investors as markets reopen this morning. tracie potts, wbal-tv 11 news. >> police are investigating tw
. >> tracie potts has a breakdown of what congress agreed to. >> good morning. a very late vote last night but runtime for millions of americans who wondered if their taxes would go what this year. >> lawmakers left capitol hill after finally avoiding the fiscal cliff. >> some point you strike a balance. >> 257 democrats and republicans voting for a bill to keep the alternative minimum tax from hitting working families and prevent tax hikes for 98% of americans....